Invesco Ltd. Cuts Stake in NewAmsterdam Pharma Company N.V. $NAMS

Key Points

• Invesco Ltd. has reduced its holdings in NewAmsterdam Pharma by 21%, selling 31,625 shares, and now owns about 0.11% of the company valued at $2.43 million.
• Several institutional investors, including Mirae Asset Global Investments and Barclays PLC, have recently adjusted their positions in NewAmsterdam Pharma, indicating significant interest from large investment firms.
• NewAmsterdam Pharma reported an EPS of ($0.15), surpassing analysts' forecasts, and has received positive ratings from multiple brokerages, with a consensus price target around $41.55.

Invesco Ltd. reduced its position in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,934 shares of the company's stock after selling 31,625 shares during the period. Invesco Ltd. owned approximately 0.11% of NewAmsterdam Pharma worth $2,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NAMS. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock valued at $80,000 after acquiring an additional 596 shares in the last quarter. Northern Trust Corp acquired a new position in shares of NewAmsterdam Pharma in the fourth quarter valued at about $556,000. Barclays PLC grew its stake in shares of NewAmsterdam Pharma by 120.0% in the fourth quarter. Barclays PLC now owns 16,713 shares of the company's stock valued at $429,000 after acquiring an additional 9,117 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of NewAmsterdam Pharma in the first quarter valued at about $215,000. Finally, California State Teachers Retirement System grew its stake in shares of NewAmsterdam Pharma by 23.5% in the fourth quarter. California State Teachers Retirement System now owns 19,404 shares of the company's stock valued at $499,000 after acquiring an additional 3,694 shares in the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the sale, the insider directly owned 119,302 shares in the company, valued at $2,897,845.58. This represents a 29.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Louise Frederika Kooij sold 8,269 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $24.86, for a total value of $205,567.34. Following the transaction, the chief accounting officer directly owned 15,000 shares of the company's stock, valued at $372,900. The trade was a 35.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 12,835 shares of company stock valued at $248,134 and have sold 256,881 shares valued at $5,445,954. Company insiders own 20.84% of the company's stock.

NewAmsterdam Pharma Stock Performance

Shares of NAMS stock traded up $0.78 during trading hours on Thursday, hitting $25.66. 613,987 shares of the company were exchanged, compared to its average volume of 810,352. The firm has a market cap of $2.89 billion, a P/E ratio of -15.84 and a beta of -0.01. NewAmsterdam Pharma Company N.V. has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The company has a 50 day simple moving average of $22.81 and a two-hundred day simple moving average of $20.51.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.37. NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. The company had revenue of $19.15 million during the quarter, compared to the consensus estimate of $1.44 million. As a group, sell-side analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NAMS. Citigroup began coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 17th. They set a "buy" rating and a $42.00 price objective on the stock. Wells Fargo & Company began coverage on shares of NewAmsterdam Pharma in a research note on Monday, August 25th. They set an "overweight" rating and a $45.00 price objective on the stock. Royal Bank Of Canada increased their target price on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Cantor Fitzgerald began coverage on shares of NewAmsterdam Pharma in a report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 10th. They issued a "buy" rating and a $44.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.55.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.